Did you know that according to retail statistics Halloween is growing in popularity as is the amount of money that people spend celebrating? Halloween has become a bonanza for retailers because it has become a universal celebration and consumers are spending increasing amounts of money on costumes and all the things that go with Halloween.
Surprisingly Canadians spend more per capita on costumes, candy and décor than their counterparts in the US. In 2015 when Halloween fell on a Saturday according to the RetailMeNot.inc survey Canadians spent an average of $169 per person hosting a Halloween party and on the following:
Value Village says that Halloween sales have increased more than 35% over the past five years and at Canadian Tire Halloween sales are the third most important seasonal category behind Christmas and summer backyard living.
Trick or treating for children is still a mainstay at Halloween but adults are spending the money on celebrating (letting their inner child out for a night of partying). Large parties with elaborate costumes have become very popular. Out of the adult numbers who are celebrating 70% are 18 to 24 years old, but people aged 25 to 34 accounted for 65% and 35 to 44 years old accounted for 60%. According to the National Retail Federation adult celebrations involved many of the following activities:
This increased spending on Halloween opens up many business opportunities for those who want to cash in by providing a service. It also provides many seasonal work opportunities for those who are looking to temporarily increase their income.
Benefits and Impacts of Deferring your Mortgage Payments
Bubble Friendly Ways to Vacation
How the Pandemic is Affecting Canadian Businesses
Covid-19 Now is the Time to get Serious About Your Financial Wellness
Five to Ten a Day for Better Health (of Your Business)
Personal Finance New Year’s Resolutions
Pros and Cons of Reverse Mortgages
What to do When you Can’t Pay Your Bills